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Indian River County I Impact Fee Update Study <br /> Given this information, the high end of vacant land sales ($60,000 per acre) is used for the <br /> value of land for emergency services impact fee calculations. This figure is lower than the <br /> value of land where existing stations are located and represents a 30-percent decrease from <br /> the 2005 study and a 60-percent decrease from the 2007 study. <br /> Public Buildings <br /> Public buildings include a range of facilities from County offices and courthouses that need <br /> to be in central locations to maintenance facilities that have more flexibility in location. <br /> Given that the County has not bought any land for public buildings recently and <br /> programmed capital expansions will take place on existing land, the land value of parcels <br /> where the existing buildings are located is evaluated, which averaged $89,615. This value is <br /> used in the impact fee calculations, and represents a decrease of 12 percent from the 2005 <br /> study and 50 percent decrease from the 2007 study. <br /> Libraries <br /> As presented in Table F-9, the current value of land where existing libraries are located <br /> averages $38,000, with a range of$15,000 per acre to $330,000 per acre. This information <br /> along with the vacant sales values of 4 to 6-acre parcels suggests that an average land value <br /> of$50,000 per acre is a reasonable estimate. This figure is 50 percent lower than that used <br /> in the 2005 study and 75 percent lower than the 2007 study. <br /> Tindale-Oliver&Associates, Inc. Indian River County <br /> June 2014 F-13 Impact Fee Update Study <br /> ZL Z <br />